HomeMy WebLinkAboutCity Council Resolutions (R-10-3240)-06/15/2010RESOLUTION R-10-3240
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A
GOVERNMENTAL LEASE-PURCHASE MASTER AGREEMENT, SUPPLEMENT NO.
306400 AND RELATED INSTRUMENTS AND DETERMINING OTHER MATTERS IN
CONNECTION THEREWITH
WHEREAS, the governing body of the City of Colleyville (Lessee) desires to obtain
certain equipment (the Equipment) described in Supplement No. 306400
to the Governmental Lease-Purchase Master Agreement (collectively, the
"Lease") with Wells Fargo Equipment Finance, Inc. (Lessor) the form of
which has been available for review by the governing body of Lessee prior
to the meeting; and
WHEREAS, the Equipment is essential for the Lessee to perform its governmental
functions; and
WHEREAS, the funds made available under the Lease will be applied to the acquisition
of the Equipment in accordance with such Lease; and
WHEREAS, Lessee has taken the necessary steps, including those relating to any
applicable legal bidding requirements, to arrange for the acquisition of the
Equipment; and
WHEREAS, Lessee proposes to enter into the Lease with Lessor substantially in the
form presented at a duly called meeting of the governing body of Lessee
held in accordance with all applicable legal requirements, including open
meeting laws, on the 15t" day of June 2010.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1. THAT it is hereby found and determined that the terms of the Lease in the
form presented to this meeting and incorporated in this resolution are in
the best interests of Lessee for the acquisition of the Equipment.
Sec. 2. THAT the Lease and the acquisition and financing of the Equipment under
the terms and conditions as described in the Lease are hereby approved.
The Mayor of Lessee and any other officer of Lessee who shall have
power to execute contracts on behalf of Lessee be, and each of them
hereby is, authorized to execute, acknowledge and deliver the Lease with
any changes, insertions and omissions therein as may be approved by the
officers who execute the Lease, such approval to be conclusively
evidenced by such execution and delivery of the Lease. The Mayor of the
.Lessee and any other officer of Lessee who shall have power to do so be,
Resolution R-10-3240
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and each of them hereby is, authorized to affix the official seat of Lessee
to the Lease and attest the same.
Sec. 3. THAT the proper officers of Lessee be, and each of them hereby is,
authorized and directed to execute and deliver any and all papers,
instruments, opinions, certificates, affidavits and other document and to do
or cause to be done any and all other acts and things, necessary or proper
for carrying out this resolution and the Lease.
Sec. 4. THAT pursuant to Section 265(b) of the Internal Revenue Code of 1986,
as amended (the Code), Lessee hereby specifically designates the Lease
as a qualified tax-exempt obligation for purposes of Section 265(b)(3) of
the Code.
Sec. 5. THAT the undersigned further certifies that the above resolution has not
been repealed or amended and remains in full force and effect and further
certifies that the Lease executed on behalf of Lessee is the same as
presented at such meeting of the governing body of Lessee, excepting
only such changes; insertions and omissions as shall have been approved
by the officers who executed them.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF ~_ AYES U NAYS, AND
ABSTENTIONS, THIS /~~ DAY OF 2010.
ATTEST:
-~~-_
nthia"Singleton, TRMC, CMC
City Secretary
CITY OF COLLEYVILLE
David Kelly
Mayor